Investor's Business Daily - The Mortgage Bankers Assoc.'s mortgage applications index fell 6.2% in the week ended July 18 to 489.6 as 30-year mortgage rates rose 0.37 point 15 6.59%, the highest in a year. The purchase index fell 6.7% to 335.6 and the refi index fell 5.6% to 1392.7. Financial turmoil has caused interest rates to rise while soaring home-loan defaults have forced banks to curb credit, deepening the housing slump. -- read full article
Wed, 23 Jul 2008 22:36:43 GMT - Yahoo! News: Business
Investor's Business Daily - The economy has slowed "somewhat" as rising energy prices and the credit crunch force consumers to cut back, the Federal Reserve said Wednesday. -- read full article
Wed, 23 Jul 2008 23:01:50 GMT - Yahoo! News: Business
Reuters - China's Hebei Zhongxing Automobile Co
is in talks with General Motors and major Chinese
automaker FAW Group to explore opportunities for cooperation,
including equity ties, a source close to the situation said on
Thursday. -- read full article
Thu, 24 Jul 2008 05:17:49 GMT - Yahoo! News: Business
Reuters - Microsoft Corp said on
Wednesday that Kevin Johnson, who as president of Microsoft's
largest business division spearheaded the company's pursuit of
Yahoo Inc , is leaving the software maker. -- read full article
Thu, 24 Jul 2008 02:23:18 GMT - Yahoo! News: Business
Reuters - SemGroup LP, an Oklahoma-based oil
trading services company, on Wednesday said it received
approval from the Bankruptcy Court for its initial motions
related to its bankruptcy. -- read full article
Thu, 24 Jul 2008 00:12:54 GMT - Yahoo! News: Business
Reuters - Amazon.com Inc said on
Wednesday quarterly profit doubled and sales grew 41 percent,
indicating to Wall Street that many cost-conscious shoppers are
heading online to save money in a tough economy.
Reuters - The House of Representatives passed
a massive housing rescue bill on Wednesday while the White
House dropped a threat to veto it, paving the way for measures
aimed at shoring up the worst U.S. housing market since the
Great Depression.
Reuters - Furniture retailer Ethan Allen
Interiors reported a 46 percent drop in quarterly
profit on Wednesday, hurt by declining sales and charges to
restructure and close some of its design centers. -- read full article
Wed, 23 Jul 2008 12:07:55 GMT - Yahoo! News: Business
AP - With the cost of everything from air conditioning to whipped cream rising, many restaurants have been raising prices. LongHorn Steakhouse is passing on part of the tab to its servers.
Reuters - A group of SemGroup LP
creditors on Wednesday raised the prospect that unauthorized
energy trading may have caused the $3.2 billion loss that sank
the 12th-biggest privately held U.S. company. -- read full article
Wed, 23 Jul 2008 17:26:47 GMT - Yahoo! News: Business
Reuters - Stocks rose on Wednesday as financial
shares climbed on hopes lawmakers will approve the rescue plan
for mortgage finance companies Fannie Mae and Freddie
Mac and the price of oil fell.
Reuters - Boeing Co reported a
bigger-than-expected 19 percent drop in quarterly profit on
Wednesday as it took a charge on a delayed military plane
contract and suffered effects of its troubled 787 Dreamliner
program.
Reuters - The world's two biggest drugmakers,
Pfizer Inc and GlaxoSmithKline Plc , both beat
expectations for quarterly earnings on Wednesday, as did Wyeth
, indicating the sector's resilience. -- read full article
Wed, 23 Jul 2008 13:59:49 GMT - Yahoo! News: Business
Reuters - The pace of U.S. economic activity
slowed somewhat through mid-July and price pressures were
elevated or increasing across the country, the U.S. Federal
Reserve said on Wednesday in a report showing evidence of
inflation warning signs across the country.
